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Owlstone Medical completes $50 million financing

Owlstone person mask 3.11.18Owlstone logo 3.11.18Diagnostics company Owlstone Medical Ltd, which is developing a breathalyser for applications in early disease detection and precision medicine, has completed its financing round to drive the global commercialisation of its Breath Biopsy platform. The round raised a total of $50 million ( about £38 million) inclusive of the previously announced (March 2018) sum of $15 million (about £11 million), bringing the total amount of finance raised by the company to about $73 million (about £56 million) since its founding in 2016.

The initial phase of this financing round was led by Aviva Ventures, the venture capital arm of Aviva plc, a global leader in insurance, and Horizons Ventures, a private investor. The additional $35 million completion of the round was led by Horizons Ventures and a group of global strategic investors that included Ventura Capital and Foxconn Technologies Group.

In this round, Owlstone Medical sought participation from organisations that would be able to provide strategic support for the business in addition to capital investment. With these long-term investors now in place, the company is in a position to benefit from improved access to key markets such as China, to clinical and academic researchers to support product development efforts, to high-quality manufacturing partners, and to additional international funding sources, the company stated.

The funds were raised to expand commercial opportunities in precision medicine, including through the launch of targeted Breath Biopsy kits, and to enable further investment in the technology platform to support the development of additional high-value applications.

For further information about Owlstone Medical visit www.owlstonemedical.com, for further information about Aviva Ventures visit https://digital.aviva.com, for further information about Horizons Ventures visit www.horozonsventures.com, for further information about Foxconn Technology Group visit www.foxconn.com, and for further information about Ventura Capital visit www.ventura.ae

Last modified onTuesday, 06 November 2018 09:52